Your housing dollar goes further in Carmi, Illinois, so living here and raising a family is a value. Carmi has many opportunities for buying and building a home, along with several apartment complexes and individual homes within residential areas available for rent. The past few years have seen a community wide effort to clean up older homes, that could no longer be restored, which leaves several good locations for building.
New housing continues to be built in Carmi. The majority of new homes are located in subdivisions less than 20 years old, as well as the outskirts of Carmi on a small lake known as Colony West. The average cost to build a 2,000 square foot, traditional brick ranch home with 3 bedrooms, 2 baths and 2 car attached garage is around $110,000 to $140,000.
And your home holds its value quite well. If you purchased an existing 2,000 square foot, traditional brick ranch home (less than 15 years old), well-maintained, with 3 bedrooms, 2 baths and 2-car attached garage, you would pay on an average between $90,000 to $120,000. The real estate property assessment percentage is presently 33.33 percent of fair market value.
For the seniors, there also are retirement homes, retirement apartments, assistive living complexes and nursing homes available.
While the Little Wabash River runs through the east portion of Carmi, the majority of housing in Carmi does not fall in the flood zone area which requires flood insurance.